ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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If we model after-tax household income with a normal distribution, then the figures of a study imply the information in the following table. Assume that the distribution of incomes in each country is normal. \table[[Country,Country A,Country B,Country C,Country D,Country E],[Mean Household Income,$11,000,$40,000,$13,000,$12,000,$34,000
 
If we model after-tax household income with a normal distribution, then the figures of a study imply the information in the following table. Assume that the distribution of Incomes in each country is
normal.
Country
Country A
Country B
Country C
Country D
Country E
Mean Household Income
$11,000
$40,000
$13,000
$12,000
$34,000
Standard Deviation
$15,000
$38,000
$17,000
$39,000
$12,000
What percentage of households in Country E are either very wealthy (income at least $95,000) or very poor (income at most $12,000)? (Round your answer to the nearest percent.)
× %
100
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Transcribed Image Text:If we model after-tax household income with a normal distribution, then the figures of a study imply the information in the following table. Assume that the distribution of Incomes in each country is normal. Country Country A Country B Country C Country D Country E Mean Household Income $11,000 $40,000 $13,000 $12,000 $34,000 Standard Deviation $15,000 $38,000 $17,000 $39,000 $12,000 What percentage of households in Country E are either very wealthy (income at least $95,000) or very poor (income at most $12,000)? (Round your answer to the nearest percent.) × % 100
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